Varun Beverages share price likely to see over 10% upside, says analyst; here's why
Varun Beverages' target price by almost 11% and believes that the stock could rise by more than 10% from its closing price of ₹1,070 on Monday, December 4. Following a visit by the brokerage to the Varun Beverages plant in Nuh, Gurgaon, the brokerage house stated in its report that it will essentially stick to its estimates for CY24–25 and reiterate 'Accumulate' with a higher target price of ₹1,180 from ₹1,065 as it assigns 48x (from 45x) CY25E P/E, given a roll-forward and 45% increase in capacity over CY22.
"We estimate Varun Beverages, to post an earnings per share compound annual growth rate (EPS CAGR) of 21.5% during CY23-25 which is highest amongst our coverage universe," the brokerage said. "Exciting news! Mint is now on WhatsApp Channels
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